Truist Financial Co. (NYSE:TFC) Stock Holdings Lessened by South Dakota Investment Council

South Dakota Investment Council reduced its holdings in Truist Financial Co. (NYSE:TFC) by 1.2% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 296,985 shares of the insurance provider’s stock after selling 3,700 shares during the quarter. South Dakota Investment Council’s holdings in Truist Financial were worth $12,883,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Bangor Savings Bank lifted its position in shares of Truist Financial by 92.5% in the 4th quarter. Bangor Savings Bank now owns 566 shares of the insurance provider’s stock worth $25,000 after buying an additional 272 shares during the last quarter. Valley Wealth Managers Inc. bought a new position in shares of Truist Financial in the 3rd quarter worth about $26,000. MidAtlantic Capital Management Inc. bought a new position in shares of Truist Financial in the 3rd quarter worth about $32,000. Fortitude Family Office LLC lifted its position in shares of Truist Financial by 376.7% in the 3rd quarter. Fortitude Family Office LLC now owns 858 shares of the insurance provider’s stock worth $37,000 after buying an additional 678 shares during the last quarter. Finally, Ashton Thomas Securities LLC bought a new position in shares of Truist Financial in the 3rd quarter worth about $45,000. 71.28% of the stock is currently owned by institutional investors.

Truist Financial Stock Down 2.1 %

TFC stock opened at $45.67 on Friday. The company’s 50 day simple moving average is $45.61 and its 200-day simple moving average is $44.49. Truist Financial Co. has a 52-week low of $34.26 and a 52-week high of $49.06. The firm has a market capitalization of $60.62 billion, a P/E ratio of 13.71, a P/E/G ratio of 1.63 and a beta of 1.08. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.83 and a quick ratio of 0.83.

Truist Financial (NYSE:TFC) last announced its quarterly earnings data on Friday, January 17th. The insurance provider reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.03. The firm had revenue of $5.11 billion for the quarter, compared to the consensus estimate of $5.05 billion. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. The firm’s revenue was up 3.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.81 earnings per share. As a group, equities research analysts anticipate that Truist Financial Co. will post 4 EPS for the current year.

Truist Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Friday, February 14th will be given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 4.55%. The ex-dividend date of this dividend is Friday, February 14th. Truist Financial’s dividend payout ratio is 62.46%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on TFC. The Goldman Sachs Group lifted their price objective on shares of Truist Financial from $50.00 to $60.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Keefe, Bruyette & Woods lifted their price objective on shares of Truist Financial from $55.00 to $57.00 and gave the company an “outperform” rating in a research report on Tuesday, January 21st. Piper Sandler lifted their price objective on shares of Truist Financial from $46.00 to $51.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. Hsbc Global Res upgraded shares of Truist Financial from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 7th. Finally, Wells Fargo & Company lifted their price objective on shares of Truist Financial from $48.00 to $52.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Eleven research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Truist Financial currently has a consensus rating of “Moderate Buy” and an average price target of $50.79.

Insiders Place Their Bets

In other Truist Financial news, Director K. David Jr. Boyer sold 4,966 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $46.20, for a total value of $229,429.20. Following the completion of the sale, the director now directly owns 11,246 shares of the company’s stock, valued at $519,565.20. The trade was a 30.63 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO William H. Rogers, Jr. bought 34,180 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was acquired at an average cost of $48.56 per share, with a total value of $1,659,780.80. Following the completion of the transaction, the chief executive officer now directly owns 691,451 shares of the company’s stock, valued at approximately $33,576,860.56. This represents a 5.20 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.17% of the company’s stock.

About Truist Financial

Truist Financial Corporation, a financial services company, provides banking and trust services in the Southeastern and Mid-Atlantic United States. The company operates through three segments: Consumer Banking and Wealth, Corporate and Commercial Banking, and Insurance Holdings.Its deposit products include noninterest-bearing checking, interest-bearing checking, savings, and money market deposit accounts, as well as certificates of deposit and individual retirement accounts.